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How Are Medigap Premiums Determined by Insurers in Idaho?

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There are several ways in which insurers can determine the monthly premium costs you pay for your Medigap supplemental health insurance plan. These ways include rating systems, which are called:

    • Issue-age rating
    • Community rating
    • Attained-age rating

    As a resident in Idaho, you need to be aware of how your premiums are calculated so you can choose the best plan for you!

    Issue-Age Rating

    Issue-age rating is one of the ways insurers can determine your Medigap premiums. This means your premium is based on the age when you buy the Medigap plan. Keep in mind that with this method, premiums will be lower for those who buy a Medigap policy at a younger age and will not go up because you are getting older!

    However, other factors can increase your premiums over the years, such as inflation rates.

    Community Rating

    Community rating is another way insurers in Idaho determine your Medigap premiums. With this system, your premium will not be based on age. The same monthly premium will be charged to everyone who has the Medigap plan. 

    Like issue-age rating, your premiums can increase because of factors like inflation.

    Attained-Age Rating

    monthly premiums of medicare supplement plan - medicare supplement insurance plan

    A senior couple planning their finance and paying bills while using a laptop at home. A mature man and woman going through paperwork and working online with a computerThis specific rating system is not used in Idaho. So, if you live in Elmore, Boise, Owyhee, Canyon, Ada, Gem, and Payette Counties, keep in mind that your monthly Medigap premium will be based on either issue-age rating or community rating.

    With attained-age rating, the premium of these Medicare supplement insurance plans will be based on the beneficiary’s current age and will increase as they get older.

    Learn More About Medigap In Idaho!

    Teton Medicare knows anything and everything about medicare supplemental insurance in Idaho! So if you want to learn more about your Medigap options and get additional Medicare benefits, give us a call today!

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